Good Day;
I need some advise with regards to errors by previous staff. I have taken over the bookkeeping at a company there have been staff in this position that clearly did not have the accounting knowledge and some with just pure lack of concentration that left me with errors upon errors that just carried from one financial year on the balances to the next. My question is has anyone been faced with something similar and how did you resolve it? in the quikest way possible as it is affecting my current work with regards to the balances and time to peruse all the records. Nominal accounts started the year with a balance which as we know should have started with a zero balance each year! financial statements have been prepared for these passed years. so i'm at my wits end wrt the quikest way to solve this.
can i not just get pastel to wipe the balances and start of a fresh with the correct balances and the respective zero accounts?